The last quarter of 2023 saw a noticeable uptick in mortgage delinquencies, signaling a shift in the housing finance landscape, as revealed in the Mortgage Bankers Association’s (MBA) latest findings. The rate of delinquencies for loans on one-to-four-unit residential properties rose to 3.88% of all loans outstanding, showing a modest increase from the third quarter … [Read more…]
The Westwood neighborhood in Los Angeles has so much to offer its residents. From great schooling to delicious restaurants, there’s something for everyone in Westwood. This article will tell you all you need to know about this desirable Los Angeles neighborhood.
Where is Westwood?
Settled on Wilshire Blvd., Westwood is nestled amongst some of L.A.’s wealthiest neighborhoods. To the north, you’ll find Bel Air and to the south, there’s Century City. On the west lies Brentwood and on the east, there’s Beverly Hills.
In addition, the popular neighborhoods of Santa Monica and Hollywood are just a few miles away.
Source: Rent.
What’s it like to live in Westwood, Los Angeles?
Like all L.A. neighborhoods, Westwood is truly unique. It’s located close to the famous UCLA campus, which can make the surrounding area feel like a small college town. However, that doesn’t mean there isn’t more to this diverse neighborhood.
The average resident of Westwood is 50 years old. While the average resident skews a little older in age, it’s also a great space for young families and singles alike. There are many different elements that make living in this area great. Let’s dive into a few of those elements.
Community
Westwood’s population is roughly 2,000 people, composed of retirees, young adults and students. Although the area mainly draws in students attending UCLA or other surrounding colleges, it has become more popular in recent years due to the building of new high rise apartment buildings.
The area is also home to many retirees who enjoy the more suburban side of Westwood, near The Los Angeles Country Club. This area hosts spacious homes that draw in people looking for a quieter side of this urban neighborhood.
Westwood is also a great option for families as the area offers several amenities suited for families, such as spacious parks and interactive play areas. In this community, you’ll really find a broad mix of people across all ages and walks of life.
Safety
If you’re looking for a safe neighborhood in Los Angeles, you can’t go wrong with Westwood. Compared to other neighborhoods of Los Angeles, Westwood is a very safe place to live. According to the L.A. Times, Westwood averages one violent crime and 12 property crimes per week, with an average of 2.5 crimes per 10,000 people.
While we all want to live in a crime-free neighborhood, this rate per person is incredibly low compared to other areas in the city, state and even country. Safety matters when it comes to choosing a place to live and Westwood is a pretty safe area to settle down and call home.
Transportation
Los Angeles is not known as a walking city and most people living in Westwood drive to work with an average commute time of 27 minutes. Parking in Westwood Village can be tricky and sometimes non-existent. While public transportation is available, it isn’t always the most reliable.
That being said, Westwood is one of the more walkable neighborhoods in Los Angeles. There are other forms of transportation to get around this cozy neighborhood, such as rideshare apps, bikes and scooters.
Education
There are many great schools within the Westwood neighborhood. For families with children, the area offers many options for school, from private to charter to public schools. For high school, Westwood has many college prep schools for those looking for a more specific education for their children.
The most notable schools in the area are UCLA and Mount Saint Mary’s, which draws college students from all over the world. Whether your kids are just starting their education or ready to write their college essays and take the SATs, Westwood is a great neighborhood that caters to education and continued learning.
Entertainment
Westwood, Los Angeles has an abundance of entertainment, everything from fancy, fine dining to cozy coffee shops. Some of the favorites restaurants include Mary and Robbs Westwood Café, Diddy Riese and Espresso Profeta.
If you’re looking for a cultural day activity, you’re in luck because Westwood is home to some of L.A.’s best art museums — one of them being The Hammer — where you’ll find everything from Monet to modern art.
There’s also plenty to do at night. Try The Geffen and Fox theater as they’re staples in Westwood and are well known for putting on plays and hosting movie premieres. On the weekend, support local shops at the Farmers Market. Keep in mind the neighborhood is also located within driving distance to many other neighborhoods and attractions, such as the beaches of Santa Monica and the famous Rodeo Drive in Beverly Hills.
Finding an apartment in Westwood
Westwood is one of the most sought after neighborhoods in Los Angeles. With its new high-rise apartment buildings, diverse restaurants and entertainment, this area is quickly increasing in popularity. The average rent in Westwood is around $5,000 for a three-bedroom apartment.
Whether you’re a student, recent grad, young family or retiree, Westwood has something for you. It’s the perfect Los Angeles neighborhood to settle down in. Check out these apartments and find your perfect home in Westwood, Los Angeles.
Ashley Singleton is a writer who loves following and writing about current lifestyle, DIY and home improvement trends. You can read some of her other work on the Lady Spike Media website. In her spare time, she performs stand-up comedy in Los Angeles.
Small Luxury Hotels of the World (SLH) is a collective of high-end properties that meet high standards for service and style. There are more than 500 boutique hotels in 90 countries that make the grade.
SLH will not become one of the many Hilton Honors brands, but the strategic partnership between the two unlocks the door to significantly more luxury properties than are currently in the Hilton portfolio.
For now, the details of using Hilton elite status benefits and credit card perks at SLH properties are still being ironed out, but Hilton members will soon be able to earn and redeem points at the participating luxury hotels.
What happens to the World of Hyatt partnership?
As Hilton Honors ramps up its partnership, World of Hyatt will end its connection with SLH. This comes on the heels of Hyatt’s new acquisition of travel club platform Mr. & Mrs. Smith, which gives World of Hyatt members plenty of opportunity to earn and redeem points at more than 1,500 luxury properties. Hilton will have an exclusive partnership with SLH.
9 Small Luxury Hotels of the World properties to look forward to booking with Hilton points
To book these new hotel options, Hilton Honors members can use any of Hilton’s traditional reservations channels to book a stay at participating SLH hotels. This includes earning and redeeming points, which multiply when you use a Hilton Honors co-branded credit card.
Hilton Honors is also a transfer partner of AmEx Membership Rewards. No matter which credit card you use, these are some of the exciting SLH options that may participate in the Hilton Honors partnership.
1. The Principal Hotel, Madrid
Along the famous Gran Via, this hotel is close to popular shopping, theaters, nightlife, dining and tourist attractions like the Prado and Retiro Park.
Be sure to visit the one of the rooftop restaurants and bar for cocktails and tapas before heading out to a night on the town.
2. Inverlochy Castle, Scotland
Want to sleep in a castle? Hilton Honors points could be your chance. The 19th century Inverlochy Castle is in the Scottish Highlands where guests can slumber like royalty.
Other activities include fishing, hiking, mountain biking, golf and even a ride on the Hogwarts Express train of Harry Potter fame.
3. Hotel Excelsior, Dubrovnik, Croatia
Hugging the Adriatic Sea, this year-round hotel provides excellent views of the city’s famous Old Town (which was used for filming King’s Landing in “Game of Thrones”) and the popular island of Lokrum across the bay.
Instead of a traditional sandy beach, guests have a stone-lined deck from which they can take a dip in the water or lay back in the sun. There is a heated indoor pool and spa when the weather is not ideal for sitting by the sea.
4. Nimb Hotel, Copenhagen
Facing Tivoli Gardens, one of the oldest amusement parks in the world, this hotel looks like part of a fairytale. Not only is there a convenient rooftop pool and sun deck available for guests, but anyone that stays here enjoys free access to Tivoli Gardens when it is open.
5. Hemingways Nairobi
Hemingways Nairobi is a solid option for visitors either before or after a safari trip because of its location near Nairobi National Park. It has its own gardens offering tranquility from the city of Nairobi, one of East Africa’s bustling downtowns.
An outdoor swimming pool, massive guest rooms and plenty of green space are all less than 30 minutes from the city-center Wilson Airport, where many safari flights depart.
6. The Anam Mui Ne, Vietnam
Along the East Sea, this resort is similar to a Hawaiian getaway with beautiful sea views and two sparkling swimming pools.
The Vietnamese restaurant serves traditional regional recipes from around the country, and don’t miss the evening sundowner music and dance performances.
7. Viceroy Bali
This small, family-owned resort five minutes from Ubud is surrounded by rice fields and lush foliage ideal for guests looking for a wellness vacation, especially one focused on meditation and self-improvement.
Its 40 private villas offer oversized infinity pools, and local experiences include everything from a walk through the rice paddies to Balinese dance lessons and temple offerings.
8. Keswick Hall, Charlottesville, Virginia
This luxury resort overlooking the Blue Ridge Mountains in the Virginia countryside boasts renovated interiors, a new spa and a Jean-Georges’ restaurant.
History buffs will appreciate its proximity to Thomas Jefferson’s Monticello.
9. The Roundtree, Amagansett
In the Hamptons on Long Island, this boutique hotel provides respite from the bustle of New York City and puts visitors within reach of the Atlantic Ocean.
A beach buggy takes guests to the shore during the summer, but back at the property, there is a lot to do, too. This includes popcorn and s’mores by the fire pit, afternoon tea and cookies, biking around the area, golf, baking classes and wine tastings.
The accommodations are made up of rooms, suites and private cottages.
The Hilton Honors and SLH exclusive partnership recapped
Hilton Honors members have another option for earning and redeeming points now that there is an exclusive partnership between Hilton and Small Luxury Hotels of the World. As long as you make a reservation through a Hilton channel, SLH hotels now offer Hilton Honors members access to more than 500 boutique hotels around the world.
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2024, including those best for:
Wall mirrors are not merely functional accessories but also serve as stylish focal points that can transform the ambiance of any room. Through this comprehensive article, we embark on a journey to discover the best wall mirrors available online. This list has been carefully curated to elevate your home decor to new heights.
From classic designs to modern innovations, we explore a diverse range of mirrors, considering factors such as durability, versatility, and aesthetic appeal. Whether you seek to create the illusion of space in a cozy nook, add a touch of sophistication to a formal setting, or infuse your space with contemporary flair, this selection covers all bases.
So, join us as we delve into the world of wall mirrors, uncovering the perfect reflection of timeless elegance for your living space.
List of the best wall mirrors available online
Discover more such articles in the Home Improvement section of the Top Trending Products Page. Meanwhile, check out this list of the best wall mirrors:
1. Kohler Essential Rectangle Decorative Mirror
Enhance the elegance of your home decor with the Kohler Essential Rectangle Decorative Wall Mirror. With its modern matte black frame edges and sleek rectangular shape, this top-rated wall mirror complements any space effortlessly. Whether mounted vertically or horizontally, it completes the look of any room with finesse. Its multi-layered glass construction and premium silver coating ensure sharp, crystal-clear reflections in high definition. The mirror’s higher Color Rendering Index (CRI) of 90+ allows you to view colours in breathtaking detail, surpassing regular mirrors. Additionally, its thick, anodized frames provide durability, ensuring longevity and resistance to corrosion and tarnishing. Thus, it is a perfect wall mirror for home, adding both functionality and aesthetic appeal.
Dimensions: 22 x 34 inches
Shape: Rectangular
Frame Material: Aluminium
Colour: Matte Black
Style: Modern
Weight: 10.3 kg
Pros
Colour rendering index (CRI) of 90+
Multi-layered glass construction with premium silver coating
Rounded edge
Matte finish
Cons
Click here to buy Kohler Essential Rectangle Decorative Mirror
2. Furnish Craft Decorative Wall Mirror
The Furnish Craft Decorative Wall Mirror is crafted from high-clarity glass and framed with sturdy mild steel in a shiny black finish, adorned with a charming sunflower design. It allows you to enjoy distortion-free clarity and precise reflections for grooming, dressing, or decorating any space. Featuring a hanging hook with an extra chain hook for double security against falling, and an anti-fade protective layer for colour preservation, this mirror offers both safety and longevity. Overall, this mirror adds a touch of elegance to any room, making it one of the best wall mirrors for enhancing your home decor.
Dimensions: 32 x 32 inches
Shape: Round
Frame Material: Metal
Colour: Black
Style: Shiny Black
Weight: 1.5 kg
Pros
High quality glass
Hanging hook with chain
Anti-fade protective layer
Cons
The hanging hook is not concealed
Click here to buy Furnish Craft Decorative Wall Mirror
3. Urban Hamlet Golden Rose Design Mirror
Elevate your home decor with the Urban Hamlet Golden Rose Design Mirror, a trendy addition to any space. This round mirror boasts a modern design with practical functionality, making it suitable for bathrooms, living rooms, entryways, dressing tables, and more. Crafted with high-quality floating annealed glass, this mirror ensures no distortion, providing you with real HD imaging. The high-quality coating enhances durability and protects against rust, ensuring long-lasting use. With its golden and rose petal design, this wall mirror for home adds elegance and charm to any room.
Dimensions: 60 x 60 cm
Shape: Round
Frame Material: Iron
Colour: Golden
Style: Antique
Weight: 1.98 kg
Pros
Rustproof
No-distortion mirror
Eye-catching design
Cons
The finishing is subpar
Click here to buy Urban Hamlet Golden Rose Design Mirror
The amaflip Jinny Engineered Wood Dressing Wall Mirror features a walnut matte finish, adding a touch of sophistication to any space. Crafted from high-grade prelam engineered wood with a natural wood grain finish, this mirror boasts durability and style. Additionally, the mirror comes with a convenient shelf for storage, adding functionality to its elegant design. Backed by a 1-year warranty against manufacturing defects, this wall mount bathroom mirror requires basic assembly and includes all necessary fittings and instructions for easy installation.
Dimensions: 40 x 12 cm
Shape: Rectangular
Frame Material: Engineered Wood
Colour: Walnut
Style: Modern
Weight: 6 kg
Pros
Made of high-grade prelam engineering wood
1 year warranty against manufacturing defects
Comes with a shelf for storage
Cons
It is a bit difficult to assemble
Click here to buy amaflip Jinny Engineered Wood Dressing Wall Mirror
5. Quality Glass Frameless Wall Mirror
Upgrade your home decor with the Quality Glass Frameless Wall Mirror, a durable and stylish addition to any space. Crafted with a 5mm Saint-Gobain/Modi Guard ultra mirror, this mirror ensures long-lasting quality and clarity. Its versatile design allows for vertical or horizontal hanging, making it ideal for bedrooms, vanity areas, or as an elegant accent in dining rooms. Whether used as a decorative piece or functional bathroom mirror, its frameless design adds a touch of sophistication to any room. Easy to hang, this mirror combines beauty and practicality.
Dimensions: 18 x 24 inches
Shape: Irregular
Frame Material: Glass
Colour: Silver
Style: Modern
Weight: 2 kg
Pros
5mm saint-gobain/ modi guard ultra mirror
Frameless
Shatter-proof glass
Cons
The packaging needs improvement
Click here to buy Quality Glass Frameless Wall Mirror
6. SDG Frameless Oval Wall Mount Bathroom Mirror
The SDG Frameless Oval Wall Mount Bathroom Mirror is a top choice for enhancing your bathroom’s aesthetic appeal. Measuring 18 x 24 inches, this sleek mirror combines modern elegance with practical functionality. Its slim 5mm thickness and bevelled edges not only add depth and elegance but also ensure durability for long-lasting use. Designed for easy installation, this mirror comes complete with hanging brackets and a user-friendly installation manual. Easy to clean and maintain, this frameless wall mirror offers both style and practicality, that’s why it’s among the best-selling wall mirrors for modern homes.
Dimensions: 18 x 24 inches
Shape: Oval
Frame Material: Glass
Colour: Silver
Style: Modern
Weight: 3 kg
Pros
Frameless
5mm thickness
Comes with a user-friendly instruction manual
Cons
There are some alignment issues with the mounting bracket
Click here to buy SDG Frameless Oval Wall Mount Bathroom Mirror
7. Arsalan Arslan Decorative Mirror
Enhance your home decor with the Arsalan Arslan Decorative Wall Mirror, a captivating addition to any space. This top-rated wall mirror boasts a stunning gold metal frame adorned with a floral design . Crafted with high-quality floating annealed glass, this mirror ensures no distortion, providing you with real HD imaging and ultimate durability. You can easily hang it in your bedroom, hallway, living room, or bathroom for a chic and stylish look. Whether used alone or as part of a matching set, this round mirror is sure to elevate your home decor effortlessly.
Dimensions: 60 x 60 cm
Shape: Round
Frame Material: Iron
Colour: Gold
Style: Antique
Weight: 350 g
Pros
No distortion mirror
No installation required
Elegant floral design
Cons
The mirror size is small as compared to its overall dimensions
Click here to buy Arsalan Arslan Decorative Mirror
The Furnish Craft Beautiful Leaf Round Antique Mirror is one of the best-selling wall mirrors. It is crafted from high-clarity glass and framed with sturdy mild steel in an elegant gold finish. It allows you to enjoy distortion-free clarity and accurate reflection for grooming, dressing, or decorating any space. With hanging protection features such as a hanging hook with an extra chain hook and an anti-fade protective layer, this mirror offers double protection from falling and ensures long-lasting colour retention. Moreover, being rustproof and shatterproof, this mirror is not only stylish but also practical.
Dimensions: 18 x 18 inches
Shape: Round
Frame Material: Metal
Colour: Gold
Style: Modern
Weight: 400 g
Pros
Rustproof and Shatterproof
361 Degree
High Clarity Glass
Cons
The leaf design is a bit flimsy
Click here to buy Furnish Craft Beautiful Leaf Round Antique Mirror
9. The Urban Store Decorative Hand Crafted Wooden Round Wall Mirror
The Urban Store Decorative Hand Crafted Wooden Round Wall Mirror is a standout choice among the best wall mirrors available online. Crafted with precision using wood scoring and rub-through technique for a distressed look, this mirror exudes charm and character. Made of high-quality wood in a rich brown hue, it measures 16 x 16 inches, making it a substantial yet budget-friendly wall mirror option. Completely handcrafted, it promises long-lasting durability and features a captivating design that will capture your heart.
Dimensions: 16 x 16 inches
Shape: Round
Frame Material: Engineered Wood
Colour: Brown
Style: Traditional
Weight: 1.25 kg
Pros
Budget-friendly
100% handcrafted
Easy to install
Cons
The colour and finishing is a bit dull
Click here to buy The Urban Store Decorative Hand Crafted Wooden Round Wall Mirror
10. Art Street Wall Mirror for Bathroom
The Art Street Wall Mirror features a high-grade wooden frame and a 3mm looking glass. The frame, measuring 2 inches thick, allows for versatile installation options, both vertically and horizontally, making it adaptable to any space. Easy to assemble with included mounting hardware, this budget-friendly wall mirror is ready to hang upon arrival. Further, this mirror boasts a unique design that complements various decor styles. With its premium quality and easy maintenance, the Art Street Wall Mirror is a practical and stylish addition to any home.
Dimensions: 14.5 x 20.5 inches
Shape: Rectangular
Frame Material: Engineered Wood
Colour: Beige
Style: Modern
Weight: 900 g
Pros
Budget-friendly
3 mm glass
Non-toxic
Cons
Very fragile
Click here to buy Art Street Wall Mirror for Bathroom
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FAQs: Best Wall Mirrors
Q1. Which are some of the best wall mirrors available online?
Ans. The following are some of the best wall mirrors that you can find online:
Kohler Essential Rectangle Decorative Mirror
Furnish Craft Decorative Wall Mirror
Urban Hamlet Golden Rose Design Mirror
SDG Frameless Oval Wall Mount Bathroom Mirror
Arsalan Arslan Decorative Mirror
Read this article to learn more about these mirrors.
Q2. What are the key factors to consider when choosing a wall mirror?
Ans. The key factors to consider when buying a wall mirror include size, style, frame material, colour, installation method, and intended placement of the mirror within your space. You must also consider your budget to find the perfect fit.
Q3. How can I determine the right size of mirror for my space?
Ans. Measure the available wall space and consider the proportions of nearby furniture. Ideally, the mirror should be large enough to make an impact but not overpower the room.
Q4. How do I clean and maintain mirrors to ensure their longevity?
Ans. Use a soft cloth and glass cleaner to remove dust and fingerprints from the mirror regularly. Avoid harsh chemicals that may damage the mirror or its frame.
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Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations.
After a long year, tax season is finally upon us. You’re probably getting all your ducks in a row—collecting all the information you need, choosing your tax software, and so on. If you’re a homeowner, you might be able to catch a few tax breaks—but can you get a tax break for buying a house?
If you itemize your deductions via Schedule A rather than claiming the standard deduction, you could be eligible for one or more home-related tax breaks. And if you work from home, you might be able to claim a home office deduction (more on that later). The information below is general information regarding these deductions. It is always best to consult a tax professional if you have any questions related to your specific situation.
Deductions vs. Credits
Many people mistake deductions for credits—but they’re not the same thing. Let’s take a closer look at both types of tax breaks.
Deduction
Deductions reduce your taxable income according to the highest federal income tax bracket you fall into. So, if you qualify for a $2,000 deduction, the amount of money you can be taxed on will be reduced by $2,000.
There are two types of deductions: standard and itemized. Standard deductions are specific amounts based on your filing status and are updated annually. Itemized deductions are specific amounts you paid during the taxable year and you should use itemized deductions when your total of allowable itemized deductions is higher than the standard deduction.
Credit
Credits lower your income tax liability by a fixed dollar amount. If you qualify for a $500 tax credit, you pay $500 less in taxes.
Good to know: Some tax credits are nonrefundable, so if you don’t owe a lot of tax to begin with, you don’t qualify for the entire credit. Other tax credits, like the Earned Income Tax Credit, are refundable, so you get the entire amount under any tax circumstances. The remaining amount of credit available that wasn’t needed to pay down your tax bill comes to you in your tax refund.
Nondeductible Home Expenses
Unfortunately, some homeownership expenses just aren’t deductible. These include:
Closing costs (title insurance, appraisals, etc.)
Depreciation
Domestic service
Down payment
Fire insurance
Mortgage insurance premiums
Mortgage principal
Utilities such as gas, electricity, and water
Common Homeownership Deductions
If you itemize your deductions, there are several homeownership deductions available.
Home Mortgage Interest Deduction
Arguably the most well-known tax break for homeowners, the home mortgage interest deduction (HMID) lets you deduct interest paid on your mortgage up to $750,000 (or $375,000 if married filing separately).
If you take out a home equity loan or a home equity line of credit (HELOC) to make home improvements or buy or build a primary or secondary residence, you can deduct the interest through 2025.
You can claim this deduction on Form 1040, Schedule A.
Property Tax Deduction
Do you pay property taxes monthly or yearly? In either case, both state and federal property taxes are tax deductible on your federal return. For tax year 2023, the deduction amount is capped at $10,000 for married couples filing jointly and $5,000 for other tax statuses.
You can also claim taxes paid at closing when you buy or sell your home and certain payments made to town or county tax assessors. However, you can’t claim taxes paid on commercial or rental property.
To claim this deduction, report your total state and local income taxes in box 5a on Schedule A of Form 1040.
Mortgage Points Deductions
A homebuyer can purchase mortgage points, also called discount points, at the time of closing to lower their interest rate. For example, buying one point may lower your interest rate by 0.25%.
You can either deduct these points in the year in which you opened the mortgage or over the mortgage term. There are limitations, which you can view on the IRS website.
You can file for this deduction using Form 1040, Schedule A.
Home Office Deduction
If you’re self-employed and work from home, you can claim a home office deduction. To do so, you have to prove that you’ve used a portion of your home exclusively for business purposes. In other words, your office or another “separately identifiable space” counts, but your bedroom doesn’t—even if you work on your laptop in bed. Voluntary, occasional, or incidental freelance work won’t entitle you to a home office deduction.
There are occasions where you don’t need to meet the exclusive-use test. These include:
If you use part of your home as a day care facility for children, disabled adults, or elderly individuals
If you use part of your home to store physical inventory or product samples
Deductible expenses include:
Refurbishment and repair costs
Depreciation
A portion of your rent or mortgage payment
A portion of your utility bill
Business insurance
Office supplies
You can’t deduct landscaping or lawn care costs unless you’re a gardener or you’re in the lawn care business.
You can also consider using the simplified method for claiming your home office. That allows you to deduct $5 per square foot of your home used for business purposes. Often, this is a much more convenient way to deduct your home office versus taking the time to itemize each of your expenses.
Important: Before 2017, traditional employees could claim unreimbursed employee business expenses that exceeded 2% of their adjusted gross income on their tax return, including home office expenses. The Tax Cuts and Jobs Act eliminated that option until at least 2026. So, if you have an employer, you can’t currently write off any unreimbursed expenses related to your home office.
To claim this deduction, you’ll need to complete Form 8829, Expenses for Business Use of Your Home as part of your tax return.
Rental Expenses Deduction
If you rent your home, you can deduct some landlord expenses on your taxes, including operating expenses, depreciation, and repairs.
You can only deduct costs associated with keeping the rental in good operating condition. For example, you could deduct the cost of repairing a full bathroom that flooded, but you couldn’t deduct the cost of renovating a half bath into a full bath.
To claim this deduction, complete Form 4562, Depreciation and Amortization (Including Information on Listed Property).
Medical Capital Expense Deduction
If you have a medical condition that requires you to make improvements to your home or install special equipment, you may be eligible to deduct some or all of their cost.
Common capital expense deductions include:
Constructing ramps to exterior doors to make entering and exiting the home easier
Widening doorways or hallways to allow for wheelchairs or other mobility equipment
Installing railings, support bars, and other bathroom safety modifications
Lowering or modifying cabinets to make them usable
Installing a lift or otherwise modifying stairways
Modifying warning systems, such as fire alarms and smoke detectors
To file this deduction, use Worksheet A Capital Expense Worksheet to determine your medical capital expenses and enter the total on your Schedule A (Form 1040).
Common Homeownership Credits
As a homeowner, you may also qualify for specific homeownership tax credits.
Mortgage Interest Credit
Some lower-income first-time homeowners may receive a Mortgage Credit Certificate (MCC) from their state or local government, subsidizing the purchase of their home up to $2,000 on mortgage interest.
This credit comes with a few stipulations. For example, you’ll have to deduct the total amount of the credit from the mortgage interest you deduct. See the instructions page of Form 8396 for a complete list of stipulations. You’ll need to submit this as part of your tax return to claim the credit.
Residential Clean Energy Credit
Formally the Residential Energy Efficient Property Credit, the Residential Clean Energy Credit has a credit rate of 30% through 2032 and can cover costs related to renovating or building a home that runs on clean energy.
Specific limitations vary based on the type of improvements made, but they can apply to:
Solar electricity
Solar water heating
Small wind energy
Geothermal heat pumps
Biomass fuel
Fuel cells
See the IRS website for more details.
To claim the credit, complete Form 5695, Residential Energy Credits Part I as part of your tax return.
Energy Efficient Home Improvement Credit
If you improve your home’s energy efficiency, you may qualify for the Energy Efficient Home Improvement Credit.
Qualifying improvements include:
Building envelope components
Home energy audits
Residential energy property (i.e., central air conditioners that meet the Consortium for Energy Efficient (CEE) highest efficiency tier)
Heat pumps and biomass stoves and boilers
Each improvement has specific limits and guidelines. Learn more at the IRS website.
To claim the credit, complete Form 5695, Residential Energy Credits Part II as part of your tax return.
Alternative Fuel Vehicle Refueling Property Credit
Owners of electric vehicles may opt to add a charging station to their home. If you did so in 2023, you may qualify for the Alternative Fuel Vehicle Refueling Property Credit when you file your taxes. However, currently, this credit applies only to homes in low-income or urban areas.
To claim the credit, complete Form 8911.
A Word About Capital Gains
Many people worry about the amount of capital gains tax they’ll pay on a home sale. If you plan to sell your primary home and believe you’ll make a profit, you can exclude up to $250,000 of the gain from your income, or $500,000 if you file a joint return with your spouse. But there’s a catch: You have to have lived at the home for a minimum period of two years before the sale.
How Much Does Buying a House Help With Taxes?
Do you get a tax break for buying a house? It depends! Based on your tax situation, you could take advantage of various tax breaks available to homeowners.
Most homeowner credits and deductions only apply if you itemize your return—and you’ll only know whether itemization is worth it after you complete your tax forms. If you’re looking for a simple solution for filing your taxes, use TaxAct. As you enter information into your return, TaxAct will recommend whether itemizing your deductions or claiming the standard deduction is better for you.
You don’t have to wait for tax season to save money! Get your free credit report card from Credit.com. See where you need to work to start improving your credit to prepare for home ownership.
Disclosure: All TaxAct offers, products and services are subject to applicable terms and conditions. Price paid is determined at the time of filing and is subject to change.
The TaxAct® name and logo are registered trademarks of TaxAct, Inc. and are used here with TaxAct’s permission.
Intercontinental Exchange’s mortgage technology business, which grew significantly in 2023 with the September acquisition of Black Knight, posted an operating loss of $276 million for the full year and $74 million for the fourth quarter.
That compares with a third quarter operating loss of $157 million and fourth quarter 2022 operating loss of $6 million. For all of 2022, the mortgage business had an operating profit of $57 million. Lower transaction volumes contributed to GAAP losses for the business.
The parent company provided pro forma operating results for ICE Mortgage Technology, which treats Black Knight as if Intercontinental Exchange owned it since 2021.
For the fourth quarter, pro forma operating income was $193 million, an improvement versus the third quarter operating income of $172 million and fourth quarter 2022 of $180 million.
But for the full year it fell to $724 million from $868 million in 2022.
The acquisition of Black Knight — which brought together the largest mortgage servicing platform, MSP, with Encompass, the most used loan origination system — closed at the start of September following a legal battle with the Federal Trade Commission. The deal required Black Knight to sell Empower and related assets to Constellation Software and that business was rebranded to Dark Matter. In a separate deal required for regulatory approval, Constellation purchased Optimal Blue as a stand-alone business.
Intercontinental Exchange’s mortgage business added 37 new Encompass clients in the fourth quarter and four new MSP customers. That contributed “to a record for new sales on Encompass and the highest in the last five years for MSP and Encompass combined,” Ben Jackson, president of Intercontinental Exchange and chairman of ICE Mortgage Technology, said during the company’s earnings call.
Among those signing on to Encompass were Raymond James Bank and Carrington Mortgage.
Meanwhile MSP added Capital Mortgage Solutions and CapEd Credit Union (an existing
Encompass customer), to start the fourth quarter, Jackson disclosed.
This year, “a near-term opportunity to drive greater transparency and efficiency includes integrating Black Knight datasets, such as our closing fee data, tax, flood and valuation models into our Encompass and MSP systems,” he continued.
“Another near-term example is integrating our data and document automation platform into MSP, building a digital bridge from origination straight through to servicing, reducing cost, time and errors to onboard loans to the MSP system,” Jackson added.
Fourth-quarter mortgage technology revenue doubled to $502 million from $249 billion, benefiting from the ownership of Black Knight for the entire period.
The servicing business ICE Mortgage Technology acquired from Black Knight provided $219 million of revenue. Another $70 million of revenue came from data and analytics in the fourth quarter, $56 million more than the previous year, also likely due to the addition of Black Knight to ICE’s existing business.
Origination technology revenue slipped to $170 million from $181 million, while closing solutions were basically flat at $43 million versus $44 million one year prior.
Recurring revenue from all sources for ICE Mortgage Technology grew to $397 million from $164 million in the fourth quarter of 2022.
Full year revenue did not increase as much, rising to $1.32 billion from $1.13 billion in 2022.
“While, of course, those recurring revenues are important, a lot of these products are also going to have a transaction component,” Warren Gardiner, chief financial officer, said, noting that last year was the worst for origination volume since at least 1991.
“But we’ve continued to add new customers, the current customer base has continued to add additional products, and we’ve expanded that network. So that when those transactions do normalize, we’re going to be really benefiting from that, not only on the recurring side, but I think on the transaction side as well,” he said.
For this year, consistent with the near-term outlook provided during a call following the Black Knight deal closing, revenue growth for the mortgage technology segment will be in the low to mid-single-digit range on a pro forma basis.
“The low end of our range assumes only a modest improvement in application and origination volumes, while the high end underwrites a more substantial improvement in the double-digit growth range,” Gardiner said.
Founded in late 1886 and originally named “The Palms” for the imported palm trees, Palms is one of the oldest neighborhoods in Los Angeles. Most of the residents of Palms, Los Angeles are young singles and families looking to put down roots.
That being said, Palms has something to offer for everyone looking to find their L.A. home. The neighborhood offers its residents great dining options, unique attractions, parks and so much more.
Where is Palms?
Palms, Los Angeles, is a densely populated neighborhood with a current population of 42,545. It’s located on the Westside of L.A. and other popular neighborhoods surround it making it a central location for many people to live.
Palms is just north of Culver City and to the south of Cheviot Hills, Beverlywood and Rancho Park. To the east, you’ll find Mid City, and to the west is Mar Vista and Venice.
Source: Rent.
What’s it like to live in Palms, Los Angeles?
The neighborhood of Palms, Los Angeles, is a great area to reside in. The area was founded in 1886 by entrepreneurs and families looking to start a new life in the sunny state of California. These residents brought in 5,000 palm trees to line the street, thus giving the neighborhood its name. Today, Palms is just as exciting with great dining, education and so much more.
Community
Are you a millennial? Then Palms is the place for you. Recently voted as one of the best places for millennials by Culture Trip, Palm has an average age range of 19 to 35 years old and is primarily for singles or small families. While the majority of residents are younger, there are all different age groups residing in Palms.
Palms is a diverse neighborhood with all different walks of life living there. Around 45 percent of residents have a four-year degree or higher according to the Los Angeles Times and make an annual income of around $50,684 a year.
Education
The neighborhood has an abundance of schools, including private, language immersion schools, charter and public elementary, middle and high schools. Some of these schools include Canfield Avenue Elementary School, Clover Avenue Elementary School and Marvista Elementary School to name a few. The neighborhood is also a go-to place to live for UCLA students as Palms is close to campus.
Source: Rent. / 3665 Hughes Avenue Apartments
Entertainment
Palms has an endless supply of entertainment for its residents from dining to nightlife and everything in between — there’s never a dull moment here. There are many popular dining areas in the neighborhood, such as The Irish Times Pub & Restaurant, Lobster & Beer and The Doughroom, known for its pizza, craft beer and use of local ingredients. While there aren’t many fancy restaurants in the neighborhood, there are several options in the surrounding neighborhoods like Culver City.
Check out the Rancho Park Branch library and spend the day reading. Palms is also full of outdoor activities, with countless parks and weekend farmer’s markets where you can get local products and fresh produce. If you’re looking for an educational day, check out the Museum of Jurassic Technology. At night, check out The Velvet Lounge or Boardwalk 11 for a night of karaoke. Palms is also the home of L.A.’s “Little Brazil,” where you can enjoy an abundance of authentic restaurants and street food.
Transportation
Surprise, surprise, Palms is no exception to the traffic of Los Angeles, and similar to most neighborhoods, driving is the preferred method of transportation. The average commute time is 30 minutes and with many people driving, parking is difficult in this neighborhood. The neighborhood is near both major freeways and is in a central location to other main areas. Palms is also a very walk- and bike-friendly neighborhood, according to Walk Score. It’s the 10th most walkable neighborhood in Los Angeles.
Safety
While there’s crime in every neighborhood, Palms is a relatively safe area for L.A. There is an average of 2.2 crimes in Palms per every 10,000 people. According to the L.A. Times crime map, most of the crimes committed in this neighborhood are property and vehicle theft.
Finding an apartment in Palms
Palms, Los Angeles, is one of the oldest and most diverse neighborhoods in the city. With its close proximity to other popular cities and its unique traits, many young people seek out Palms as their new home. The cost of living in Palms is 46 percent higher than the national average, with an average rent in Palms $2,456 a month for a one-bedroom apartment.
If you think Palms is for you, check out these apartments and start your new life in Palms, Los Angeles.
Ashley Singleton is a writer who loves following and writing about current lifestyle, DIY and home improvement trends. You can read some of her other work on the Lady Spike Media website. In her spare time, she performs stand-up comedy in Los Angeles.
U.S. Home Decor Market to Surge at a Robust Pace in Terms of Revenue Over 2027
According to a new report published by Allied Market Research, titled, “U.S. Home Decor Market by Product Type, Income Group, Price, Distribution Channel & Category: Opportunity Analysis and Industry Forecast, 2020–2027,” The U.S. home decor market size was valued at $125,813.0 million in 2019, and is estimated to reach $158,929.1 million by 2027, registering a CAGR of 8.0% from 2020 to 2027. In 2019, the floor covering segment accounted for significant contribution in the U.S. home decor market share, and is expected to grow at a CAGR of 8.4% throughout the forecast period.
The U.S. home decor market has witnessed significant growth over the years, and is expected to grow at a steady pace during the forecast period. This is attributed to the fact that market players are focusing on developing eco-friendly products, owing to rise in environment awareness. The floor covering segment occupied the largest share in the overall home decor market in 2019, and is expected to maintain its leading position throughout the forecast period, owing to the wide adoption of floor coverings,
The home decor market in U.S. is driven by surge in disposable income and improvement in living standards. Moreover, the rise in affinity of consumers toward consumer-friendly home décor products are anticipated to boost the demand for home decor products. However, availability of low-quality and counterfeit products and fluctuations in the prices of raw materials used to manufacture these products restrain the market growth. Conversely, surge in demand for trendy and unique furniture is anticipated to provide lucrative opportunities for the U.S. home decor market growth.
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The U.S. home decor market is segmented based on product type, distribution channel, price, income group and category. Depending on product type, the market is divided into furniture, home textile, and floor covering. By distribution channel, it is fragmented into supermarkets & hypermarkets, specialty stores, e-commerce, and others. Based on the price, the market is segmented into premium and mass. Based on the income group, the market is segmented into lower-middle income, upper-middle income, and higher income. Based on category, the market is segmented into eco-friendly and conventional.
According to the U.S. home decor market analysis the floor covering segment generated the highest revenue in 2019, and is expected to remain dominant throughout the forecast period. The flooring segment is also expected to witness the highest growth rate of 8.4% from 2020-2027.
According to the U.S. Home Decor market forecast based on distribution channel, the specialty stores segment was the highest contributor to the U.S. market in 2019 and is expected to remain dominant through 2020-2027. However, the E-commerce segment is expected to grow at a higher growth rate through the forecast period.
Based on the price, the mass segment was the highest contributor to the U.S. home decor market in 2019 and is expected to remain dominant through 2020-2027. However, the premium segment is expected to grow at a higher growth rate through the forecast period
Based on the income group, the higher income segment was the highest contributor to the U.S. home decor market in 2019 and is expected to remain dominant through 2020-2027. The upper-middle income segment is expected to grow at a notable growth rate through the forecast period.
Based on the category, the conventional segment was the highest contributor to the U.S. home decor market in 2019 and is expected to remain dominant through 2020-2027. The eco-friendly segment is expected to grow at a highest growth rate through the forecast period
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Key findings of the study
The U.S. home decor market was valued at $125,813.0 million in 2020 and is estimated to reach $158,929.1 million by 2027, growing at a CAGR of 8.0% through the forecast period. Based on product type, the floor covering service segment would witness the fastest growth, registering a CAGR of 8.4% during the forecast period. In 2019, based on distribution channel, the specialty stores segment held the highest share, accounting for nearly half of the U.S. home decor industry. In 2019, based on the price, the mass segment was the most prominent segment and is expected to grow at a significant CAGR throughout the forecast period. Conventional segment was the dominant segment in 2019, accounting for a considerable share in the U.S. market.
Reason to Buy: ✅ Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the U.S. home decor market . ✅ Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography. ✅ The key findings and recommendations highlight crucial progressive industry trends in the U.S. home decor market , thereby allowing players to develop effective long-term strategies in order to garner their market revenue. ✅ Develop/modify business expansion plans by using substantial growth offering developed and emerging markets. ✅ Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those restraining the growth to a certain extent. ✅ Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
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Introducing the NEW HousingWire Mortgage Rates Center, a resource for housing professionals to access real-time mortgage rates data and the insights that fuel understanding and decision-making.
HousingWire is dedicated to providing housing professionals with the full picture, and while there are many places to find rates information, the Mortgages Rates Center takes a nuanced approach – coupling data with context. Each day HousingWire will help explain what’s happening in the world of mortgage rates with a quick explainer of current market drivers and a video that goes into more depth on today’s market dynamics – led by HousingWire Lead Analyst Logan Mohtashami.
Feb. 6: “Mortgage pricing should be a bit better today. The 10-year yield is slightly lower, but yesterday, the spreads were terrible, so just some improvement in that can lead to slightly better pricing today.”
–Logan Mohtashami, HousingWire Lead Analyst
To create this experience for users, HousingWire tapped the pricing expertise of Polly to power the rates data. Polly’s advanced data science capabilities and diverse data sets enable HousingWire to deliver the most accurate representation of rates across the entirety of the mortgage market. This data set is modeled using real-time locked rates with consumers nationwide.
“The new Mortgage Rates Center is without question the best resource to gather detail on economic and market data that can impact mortgage pricing,” says HousingWire Lead Analyst Logan Mohtashami. “Especially in today’s environment, lenders have to stay informed on what is happening as it happens, and particularly how the 10-year yield ties to current mortgage rates. When business can be won or lost in a matter of minutes based on intraday shifts, this information is power.”
The Mortgage Rates Center also includes charting capabilities that empower users to analyze rate trends over different time series and products. The dynamic charts are downloadable and shareable for housing professionals to leverage in sales conversations, marketing collateral and on social media.
In a statement about the Mortgage Rates Center, Polly CEO Adam Carmel shared “I’ve been an avid HousingWire reader since I began my career in mortgage more than a decade ago, and the publication remains the go-to source for relevant and timely industry information.”
“We are ecstatic to partner with them as their trusted data provider. Our teams share a mutual passion for providing lenders and other industry participants with granular data, understanding that it is pivotal to keep a pulse on what is happening in the current housing market, and to ensure profitability as the industry continues to evolve.”
Data from the Mortgage Rates Center also flows to the HousingWire homepage, where the 30-year fixed mortgage rates will be presented in a new Market Glimpse module. In addition to real-time mortgage rates, we launched the Market Glimpse with housing inventory data powered by Altos Research. We will incorporate additional data modules to support decision-making for housing professionals in the near-future.
Rates for 30-year mortgages dropped again, but homes remain unaffordable in most areas. (iStock)
Mortgage rates dropped to 6.63% this week, according to Freddie Mac’s Primary Mortgage Market Survey. Rates for 30-years fixed-rate mortgages were 6.69% last week, dropping by 0.06 percentage points.
Rates for 15-year mortgages also dropped slightly from 5.96% last week to 5.94% this week. Both 15-year mortgages and 30-year mortgage rates are still higher than they were last year.
A year ago, 30-year mortgages sat at 6.09%, on average, while 15-year mortgages averaged 5.14%, Freddie Mac reported.
“Mortgage rates have been stable for nearly two months, but with continued deceleration in inflation we expect rates to decline further,” Freddie Mac Chief Economist Sam Khater explained.
“The economy continues to outperform due to solid job and income growth, while household formation is increasing at rates above pre-pandemic levels. These favorable factors should provide strong fundamental support to the market in the months ahead.”
As mortgage rates drop, you may decide it’s the right time to finally buy a home. To find the right mortgage for your needs, Credible can show you multiple mortgage lenders all in one place and provide you with personalized rates within minutes.
HOMEOWNERS INSURANCE RATES ON THE RISE, MAINLY DUE TO INCREASE IN NATURAL DISASTERS
Home prices are lowering in some major cities
After remaining for high most of the year, home prices are dropping slightly in some metro areas.
Data from a recent S&P report showed prices in 12 out of 20 metro areas decreasing. This decrease in prices has led some households to move across state lines in search of more affordable areas.
Charlotte, Providence and Indianapolis saw the largest increase in buyers as they fled high-cost cities, stated a Zillow report.
Households that made these moves found homes were $7,500 less, on average, than where they left.
Cities that saw the highest outflow in households included Chicago, San Diego and Cincinnati. These metro areas often have higher housing costs and less robust economies, Zillow found.
If you think you’re ready to shop around for a home loan, consider using Credible to help you easily compare interest rates from multiple lenders, all without affecting your credit score.
HOMEOWNERS MOVING ACROSS STATE LINES, SEEKING AFFORDABILITY, FIND IT IN CERTAIN CITIES
It’ll be years before homes are affordable for the average buyer
The housing market is trudging toward recovery, largely thanks to mortgage interest rates dropping in recent months.
“The surge in pending home sales and new home sales, both determined by contract signings in the early stages of the buying process, indicates increased participation from buyers in the market,” explained Realtor.com Economist Jiayi Xu in response to Freddie Mac’s recent mortgage rates update. “Simultaneously, the recent rise in listing activity suggests that sellers are closely monitoring mortgage rates and adjusting their selling strategies accordingly.”
Potential homebuyers won’t see a full recovery anytime soon, however. JP Morgan experts predict that the real estate market will become affordable again about three and a half years from now. This is largely dependent on continued interest rate decreases.
“Despite the promising increase in listing activity, inventory is likely to remain low as sellers may not respond as swiftly as anticipated. In other words, a more substantial improvement in mortgage rates is necessary to attract more sellers to the market,” Xu said.
Until rates drop more substantially, mortgage payments are likely to stay high. In November 2023, the average monthly mortgage payment was $2,198, up from $1,993 a year earlier, a National Association of Realtors report found.
If buying a home is your near future, make sure you’re getting the best mortgage lender and rates with the help of Credible. Credible helps you compare rates and lenders and get a mortgage pre-approval letter in minutes.
JUST OVER 15% OF HOME LISTINGS WERE CONSIDERED AFFORDABLE IN 2023: REDFIN
Have a finance-related question, but don’t know who to ask? Email The Credible Money Expert at [email protected] and your question might be answered by Credible in our Money Expert column.